HomeMy WebLinkAboutEDA RES 2007-12
COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 2007-12
RESOLUTION APPROVING AN AMENDED AND RESTATED CONTRACT
FOR PRIVATE REDEVELOPMENT BETWEEN THE COLUMBIA HEIGHTS
ECONOMIC DEVELOPMENT AUTHORITY, THE CITY OF COLUMBIA
HEIGHTS AND HUSET PARK DEVELOPMENT CORPORATION
BE IT RESOLVED By the Board of Commissioners ("Board") of the Columbia Heights
Economic Development Authority ("Authority") as follows:
Section 1.
Recitals.
1.01. The Authority has determined a need to exercise the powers of a housing and
redevelopment authority, pursuant to Minnesota Statutes, Sections. 469.090 to 469.108 ("EDA
Act"), and is currently administering the Downtown CBD Redevelopment Project ("Redevelopment
Project") pursuant to Minnesota Statutes, Sections 469.001 to 469.047 ("HRA Act").
1.02. The Authority, the City of Columbia Heights ("City") and Huset Park Development
Corporation (the "Redeveloper") entered into a into a Contract for Private Redevelopment dated as
of October 25, 2004 (the "Contract"), setting fOlth the terms and conditions of redevelopment of
certain propelty within the Redevelopment Project, generally located east of University Avenue and
south and west of Huset Park.
1.03. The parties have determined a need to modify the Contract in celtain respects, and
have caused to be prepared an Amended and Restated Contract for Private Redevelopment (the
"Amended Contract").
1.04. The Board has reviewed the Amended Contract and finds that the execution thereof
and performance of the Authority's obligations thereunder are in the best interest of the City and its
residents.
Section 2.
Authority Approval: Further Proceedings.
2.0 I. The Amended Contract as presented to the Board is hereby in all respects approved,
subject to modifications that do not alter the substance of the transaction and tllat are approved by
the President and Executive Director, provided that execution of the documents by such officials
shall be conclusive evidence of approval.
2.02. The President and Executive Director are hereby authorized to execute on behalf of
the Authority the Amended Contract and any documents referenced therein requiring execution by
the Authority, and to cany out, on behalf ofthe Authority its obligations thereunder.
Approved by the Board of Commissioners ofthe Colwnbia Heights Economic Development
Authority tins 24th of July ,2007.
ATTEST:
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Executive Director- Wa terR. Fehst
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